Friday, February 01, 2019

WCL: An update

Regular readers may recall this past summer's story about the Cincinnati-area family that managed to 'defraud' West Coast Life:

"Mason family who faked life insurance policies, bought Bentley convertible, pleads guilty"

[ed: is it really "fraud" if the carrier's underwriter is asleep at the switch? Isn't there some shared culpability here?]

But that was then, and this is now, and FoIB Holly R tips us that there's been some closure in the case:

"A Mason man was sentenced Thursday to more than three years in prison for conspiring to launder about $3 million in proceeds fraudulently obtained from a life insurance company. 

His wife and daughter were also sentenced on one count of money laundering conspiracy."

The family must now return (what's left of) the money, and give up their newly purchased house.

Seems fair.
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